Blackstone Acquires Portfolio of Large Industrial Projects in Valley

Article originally posted on Phoenix Business Journal on April 16, 2024

New York City-based Blackstone Inc. (NYSE: BX) has scooped up several large industrial buildings in Phoenix.

Blackstone paid $87 million in all cash for a 536,740-square-foot portfolio of warehouses across four individual sales and five buildings, according to Maricopa County land records and real estate database Vizzda.

New York-based Kohlberg Kravis Roberts & Co. Inc. (NYSE: KKR) sold the properties to Blackstone on April 2.